CofT v Bosanac (No 5) & DCT v Huang – stays refused on tax debts in two cases – principles for granting stays articulated

Two separate taxpayers have, in quick succession, failed to obtain a stay of execution of judgment, before different Federal Court judgement, the first on 17 December 2019, before McKerracher J, and the second on 19 December 2019, before Jagot J. See below for a brief summary of each case and the principles for granting stays,…

CofT v Eichmann – Land used for business sheds, materials and vehicles (somehow) not an ‘active asset’ – decision in favour of taxpayer overturned

On 20 December 2019 the Federal Court has upheld the ATO’s appeal against a decision that a property used to store materials, tools and other equipment was an ‘active asset‘ for the purpose of the CGT small business concessions. But what do we think about this decision? See below, for a summary of the case. [Tax Month –…

The Trustee for the Whitby Trust v CofT – Section 99A assessments upheld despite beneficiaries being presently entitled

On 23 December 2019, the AAT (O’Loughlin DP) held that Section 99A assessments issued to a trustee on the basis that beneficiaries had effectively disclaimed their entitlement to trust income were upheld, even though the disclaimers were found to be ineffective.

See below for a summary of the case.

[Tax Month – December 2019]

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 is now law – including the controversial measures denying ‘main residence’ CGT relief to ‘non-residents’

On 12 December 2019, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 received Royal Assent as Act No 129 of 2019. As a result, clumsily and controversial measures, to deny foreign residents access to the CGT main residence exemption, are now law. See below for a summary of this new Act and…

GSTD 2019/D1 – GST and land development expenses in the ACT – what is part of the consideration for the grant of the Crown lease and what is not

On Friday 13.12.19, the Commissioner issued draft GST Determination GSTD 2019/D1, addressing the GST consequences of arrangements, between government agencies, and private developers, in the context of land development in the ACT.

See below for a summary of the draft determination.

[Tax Month – December 2019]